November 6, 2019
Lincoln Property Company Purchases 3040 M Street, NW in Washington, DC’s Georgetown Submarket
Lincoln Property Company in partnership with Cara Real Estate, an affiliate of investment manager Cara Investment, announces that they have bought 3040 M Street, NW located in Washington, DC’s Georgetown submarket. Formerly owned by Vornado and represented by Eastdil Secured, the deal closed in late September 2019.
This 48,773 SF property is located in the Georgetown submarket of Washington, D.C. on the corner of M Street, NW & Thomas Jefferson Street, NW. Georgetown, being one of the busiest retail corridors in Washington, DC sees 40,000 pedistrians a day and features national and international retail as well as specialty shops, high-end boutiques and popular restaurants.
3040 M Street, NW has more than 130 ft of prominent street frontage along M Street, NW and is home to DC’s first flagship Nike store along with Amazon Retail.
“With its activelocation and being 100% leased with a strong tenancy base that include power retailers like Nike and Amazon, the offer was an attractive scenario for purchase and we, along with our partner in the deal, Cara Real Estate, took the opportunity.” said Brandon Ernst, Senior Executive Vice President of Lincoln’s Washington, DC Metropolitan Region.